Market News
Dollar rises, stocks advance as latest tariff threat weighed - REUTERS
Summary
- Trump warns of 25% tariffs on steel and aluminum imports
- Stocks rise despite tariff concerns, led by energy and tech
- Fed Chair Powell to speak Tuesday
NEW YORK, Feb 10 (Reuters) - The dollar rose for a third-straight session on Monday after U.S. President Donald Trump warned of more tariffs, including steel and aluminum, while a gauge of global stocks advanced, shrugging off concerns about another round of duties.
Trump is expected to announce on Monday or Tuesday 25% tariffs on all U.S. steel and aluminum imports, and reveal other reciprocal tariffs soon afterward.
China's retaliatory tariffs on some U.S. exports take effect on Monday, with no sign of progress toward a new trade arrangement between Beijing and Washington.
The dollar index , which measures the greenback against a basket of currencies, advanced 0.2% to 108.30, with the euro off 0.18% at $1.0308.
"This is still very early days," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. “The market's just sort of chopping around rather than really directional right now.”
Against the Japanese yen , the dollar strengthened 0.34% to 151.91 while sterling dipped 0.37% to $1.2363.
